Incyte Corporation (INCY) entered into a clinical trial collaboration agreement with Bristol-Myers Squibb Company (BMY) for a phase I/II study that will evaluate the combination of the latter’s nivolumab and the former’s INCB24360. Incyte’s shares gained around 4.5% following the announcement.
The companies will evaluate the safety, tolerability and preliminary efficacy of the combination for the treatment of multiple tumor types including melanoma, non-small cell lung (NSCLC), ovarian, colorectal (CRC), squamous cell carcinoma of the head and neck (SCCHN) and diffuse large B-cell lymphoma (DLBCL).
As per the agreement, Incyte will be responsible for conducting the study, expected to commence in the final quarter of the year, though funding will be done by both the companies. Further details of the deal were not disclosed.
We note that Incyte has been lately signing several collaboration deals. Earlier in the month, the company entered into a similar type of deal with AstraZeneca (AZN). The companies have collaborated for a phase I/II study to evaluate the efficacy and safety of AstraZeneca’s MEDI4736 in combination with Incyte’s INCB24360 in cancer patients. The phase I part of the study will establish a recommended dose regimen of both MEDI4736 and INCB24360. The phase II portion will evaluate the safety and efficacy of the combination.
We are encouraged by Incyte’s collaboration with companies like Bristol-Myers and AstraZeneca. Incyte already has a robust pipeline with several combination studies underway. Successful development and commercialization of these candidates should drive growth.
Incyte, a biopharmaceutical company, currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector include Gilead Sciences Inc. (GILD). The stock holds a Zacks Rank #1 (Strong Buy).
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